Barclays (BCS) Talking With CVC Partners Over Its iShares Unit

Barclays (NYSE: BCS) is in talks to sell its iShares asset management unit to PE shop, CVC Partners, for approximately $4 billion, according to Reuters.

The sale would not include the securities lending business of Barclays Global Investors (BGI), the parent of iShares, the source told Reuters. Barclays would retain a roughly 20% exposure to iShares through warrants.

They are likely excluding the securities lending business to make the deal less complex with U.S. regulators.

The Reuters source said a deal could be reached as early as later this week.

Barclays is trading up 4% in pre-market trading.

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Barclays PLC (Barclays) is a global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an international presence in Europe, United States, Africa and Asia.

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